Ep. 394: Everyone Needs a Trading System to Profit with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Risk Management
We exercise no discretion whatsoever in executing the orders that are generated by our computer models, and we simply do not override these models or these signals. This is an example of how our WMA program trades a market. This has been picked because it was a particularly favorable market for our particular model. We obviously must have been short coming in here, and this rise here was enough to tell us we should quit being short and start being long. That's the WMA is a reversal system. It's either long or short, trying to follow and identify the major trends.
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